| Over a month ago | ||||
Sanara MedTech has… Sanara MedTech has received 510(k) clearance for BIASURGE Advanced Surgical Solution. | ||||
| Over a quarter ago | ||||
Operating loss is… Operating loss is expected to be between $2M and $3.5M for the three months ended December 31, 2022, compared to an operating loss of $3.4M for the three months ended December 31, 2021. Cash and cash equivalents were approximately $9M as of December 31, 2022. Zach Fleming, Sanara's CEO, stated, "In 2022, Sanara saw significant net revenue growth as a result of increased sales of our surgical products including those we market through our acquisition of Scendia and the products we license from Cook Biotech Inc. The efficacy of our CellerateRX Surgical line of products and our ability to offer an expanded portfolio of products were both key drivers of our success in 2022 and we believe they will continue to help drive growth in 2023." | ||||
Sanara MedTech (SMTI) and… Sanara MedTech (SMTI) and InfuSystem Holdings, Inc. (INFU) announced the establishment of a partnership, SI Wound Care, focused on delivering a complete wound care solution targeted at improving patient outcomes, lowering the cost of care, and increasing patient and provider satisfaction. The partnership is expected to enable InfuSystem to offer innovative products including Cork Medical, negative pressure wound therapy devices and supplies and Sanara's advanced wound care product line and associated services to new customers. | ||||
Sanara MedTech (SMTI) and… Sanara MedTech (SMTI) and InfuSystem Holdings (INFU) announced the establishment of a partnership, SI Wound Care, focused on delivering a complete wound care solution targeted at improving patient outcomes, lowering the cost of care, and increasing patient and provider satisfaction. The partnership is expected to enable InfuSystem to offer innovative products including Cork Medical negative pressure wound therapy devices and supplies and Sanara's advanced wound care product line and associated services to new customers. Zach Fleming, Sanara's CEO, stated, "NPWT is a key technology offering in the wound care market that has benefitted millions of wound care patients. By pairing Sanara's product line and deep expertise in wound care with InfuSystem's existing NPWT business, including sales, distribution, clinical support, and revenue cycle capabilities, we hope to offer a compelling solution to a broader patient universe; offering significant value and improved outcomes for patients, providers, and payors. | ||||
InfuSystem (INFU) and… InfuSystem (INFU) and Sanara MedTech (SMTI) announced the establishment of a partnership, SI Wound Care, focused on delivering a complete wound care solution targeted at improving patient outcomes, lowering the cost of care, and increasing patient and provider satisfaction. The partnership is expected to enable InfuSystem to offer innovative products including Cork Medical negative pressure wound therapy devices and supplies and Sanara's advanced wound care product line to new customers through the jointly controlled entity. | ||||
Cantor Fitzgerald analyst… Cantor Fitzgerald analyst Ross Osborn raised the firm's price target on Sanara MedTech to $50 from $40 and keeps an Overweight rating on the shares. Osborn believes the company's shares are undervalued relative to high-growth MedTech peers. | ||||
Sanara MedTech announced… Sanara MedTech announced that it closed the acquisition of Scendia Biologics on July 1, 2022. Prior to this acquisition, Scendia was a sub-distributor of Sanara's and joint venture partner. Transaction Details: $7.4 million base purchase price paid at closing; Two potential future earnout payments payable on an annual basis in either cash or common stock at Sanara's election based on sales growth in year one and year two after closing; Scendia's unaudited full-year 2021 revenue was $8.3 million and unaudited trailing twelve-month revenue was $11.0 million. This acquisition is expected to be accretive to Sanara's EPS in Q3 of 2022. | ||||
